By The Editors | January 24, 2011 | 6:14 pm
Who was ravishing in red? Who wore a velvet tux? Whose arm was around whom's?Well, REBNY's 115th annual gala was no Golden Globes, but as far as the real estate biz is concerned, it was simply the biggest night of the year. All the big shots were there, at... READ MORE»
123 Wooster Street Quilted jackets, plaid toques and intriguingly named "breeks" are hardly the usual costume for brunch at Balthazar. But a hunting apparel store's new Soho location is in the bag. Fourth-generation British clothier Barbour is opening its second permanent New York City location at Soho's 123 Wooster Street. It will take 1,993 square feet of ground-floor space, reopening in the spring following renovations. Terms of the deal were not... MORE >
250 Hudson Street If you build a 10,000-square-foot rooftop garden in Hudson Square, they will come. After an extensive renovation and intense push to attract high-end new tenants, the transformed warehouse at 250 Hudson formerly occupied by printing companies is almost... MORE >
440 Ninth Avenue It turns out the phrase "high-end sports bar" is not an oxymoron. Hudson Station is the newest bar to open in the tourist traffic zone around 35th Street. The bar will lease 7,111 square feet of space in the Paramount Group's Ninth Avenue for 15... MORE >
1751 Park Avenue Years after the start of the cupcake craze, Magnolia Bakery is adding a dollop of fluffy pink icing to Harlem. But it turns out the locals can look but not touch. The famed bakers are opening a 5,200-square-foot production facility at Park Avenue and 121st Street. It will serve as a distribution point when Magnolia begins peddling its goods via the... MORE >
149B West 36th Street These days it seems there's actually nothing more novel than a new clothing store opening in the garment district. Smart Fashion, which until now has been a Chinese importer and exporter of trendy preteen apparel, will open its first retail location on West 36th Street between Broadway and Seventh... MORE >
By Kyle Pope | December 21, 2010 | 1:50 am
While not much good has come from the Great Recession, there is this: It has created an entirely new power dynamic in New York. For decades, the power structure in this city was firmly established, even calcified. The same people. The same agendas. The same outcomes. Which isn't to say that our business, political and culture leaders have been all bad; indeed, under their (usually) benevolent direction, the city thrived, in spite of it all. But... MORE >
A group of 30 transit advocates, environmentalists, planners and labor leaders sent Governor-elect Andrew Cuomo a letter [PDF] this morning with a simple request: Don't allow, or, god forbid, encourage, the Legislature to continue raiding dedicated transit funds for the purpose of covering budget... MORE >
Earlier this month we reported about how former gubernatorial candidate and Rent Is Too Damn High frontman Jimmy McMillan was returning to the live stage for a show at Club Europa in Greenpoint. Now, thanks to Gothamist, footage of that show has surfaced. Take a good look, New York: Around 40,000 of your fellow New Yorkers pulled the lever for this man to become the highest-ranking official in the... MORE >
It's the dueling downtown controversies! Which is the bigger deal, the closing of St. Vincent's hospital or the opening of a "Ground Zero mosque," the Park51 community center? Put them together and you get the real estate story of the... MORE >
By The Editors | December 17, 2010 | 2:18 pm
On Thursday, Citigroup opened its new flagship store, an Apple-inspired, high-tech location in Union Square designed to entice customers into stopping by to say hello. The store has free WiFi, 24-hour customer assistance —and even comfy seating for premium Citi... MORE >
Earlier this month, St. Vincent's announced its plan to hire CB Richard Ellis to market the eight buildings that make up its Greenwich Village campus. The announcement came as a slap in the face to Bill Rudin, the developer whose family firm had a deal to buy some of the properties from the hospital before it went into... MORE >
By The Editors | December 17, 2010 | 10:27 am
The Magnolia Bakery has signed a 10-year lease at a 5,200-square-foot space at 1751 Park Avenue, ahead of an online push that will broaden their market for baked goods and merchandise, the Wall Street Journal reports. Co-owner Steve Abrams says he expects the new online store to bring in $10 million a year, an estimate that actually sounds conservative when you consider the fact that Magnolia's biggest fans live nowhere near New York... MORE >
For a time it seemed like 1 World Trade Center would never be built, but this year the SOM-designed, Tishman Construction-built tower has been flying up, now at a rate of one story a week. Yesterday, it reached Floor 52, according to the Port Authority, which is overseeing the project. That's the halfway point, which means, at this rate, the tower will be finished by this time next year. The building still won't open until... MORE >
By Jeffrey Margolis | December 16, 2010 | 1:19 pm
With the shopping center-urban retail community out in full force this past week at the ICSC, and with Black Friday and e-Monday and such all in the frosty air, I figured 'tis the season for a column mainly aimed at those involved in retail and restaurant... MORE >
It seems the rule at Stuyvesant Town/Peter Cooper Village is that nobody wins, at least not for... MORE >
By | December 15, 2010 | 9:49 am
The Commercial Observer NOW Email... MORE >
By Robert Knakal | December 14, 2010 | 12:10 pm
If you're a regular reader of my column, you know that I often discuss the relationship between the relative level of employment and the health of the underlying fundamentals of real estate. During this past recession, our economy lost approximately 8.4 million jobs, which had a significant negative impact on our real estate market. Since the recession officially ended, job creation has been lackluster, and this disappointing performance has been blamed significantly upon the... MORE >
By Sam Chandan | December 14, 2010 | 12:09 pm
To the consternation of his Democratic base, President Obama reached a compromise with Republicans early last week that will see expiring tax cuts extended temporarily for Americans at all income levels. Among the many other provisions of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, employee payroll taxes will be reduced by 2 percent for the duration of 2011. For the unemployed, emergency unemployment benefits will be extended at their... MORE >
228 East 45th Street The Century 21 offices are looking a lot homier these days. Residential real estate brokerage A.C. Lawrence & Company, which absorbed the recently closed firm Century 21 NY Metro, has already started moving into its former 13,000-square-foot space near Grand... MORE >
200 Park Avenue International firm of mystery Winston & Strawn has stealthily signed one of the year's largest leases. The corporate law firm, which has 14 offices around the globe, has renewed and expanded to 280,000 square feet in the Metlife building, the Post's Steve Cuozzo... MORE >
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